STOCKHOLDERS' EQUITY

12 Months Ended

Dec. 31, 2020

Each share of common stock entitles the holder to one vote on all matters submitted to a vote of the Company’s stockholders. Common stockholders are not entitled to receive dividends, unless declared by the board of directors.

As of December 31, 2019, the Company’s convertible preferred stock consisted of the following (in thousands, except for share data):


	December 31, 2019
	Shares authorized	Shares issued and outstanding	Carrying value		Liquidation preference		Common stock issuable upon conversion
Series A preferred stock	22,533,945	22,501,503	$	22,357	$	22,502	7,461,168
Series B preferred stock	22,917,726	22,917,726	93,479		87,225		7,599,178
Series C preferred stock	19,420,124	19,420,124	84,737		85,000		6,439,424
	64,871,795	64,839,353	$	200,573	$	194,727	21,499,770

Upon closing of the IPO on February 3, 2020, all of the preferred stock converted into an aggregate of 21,499,770 shares of common stock.

On February 3, 2020, in connection with the closing of the IPO, the Company filed an amended and restated certificate of incorporation, which, among other things, restated the number of shares of all classes of stock that the Company has authority to issue to 510,000,000 shares, of which (i) 500,000,000 shares shall be a class designated as common stock, par value $0.0001 per share, and (ii) 10,000,000 shares shall be a class designated as undesignated preferred stock, par value $0.0001 per share. As of December 31, 2020, no preferred stock was outstanding.